Americans haven't cooked this much at home since 2020: Campbell's CEO
(NewsNation) — More Americans are cooking at home and turning to ingredients that stretch their food budgets, a potential warning sign for the U.S. economy.
American soup and snack maker Campbell's recently saw the highest level of meals cooked at home since early 2020, CEO Mick Beekhuizen said on an earnings call this week.
'We started to see consumer sentiment softening in January,' Beekhuizen said. 'This continued throughout Q3, with consumers making more deliberate choices with their spending on food.'
And it's not just where they're eating; it's what they're eating.
Major brands flag consumer anxiety: McDonald's, Chipotle, P&G
Shoppers are being more intentional with their snack spending and gravitating toward grocery items like condensed cooking soups, broths and Italian sauces, ingredients that help 'stretch tight food budgets,' Beekhuizen said.
Campbell's noted sales of its broths rose 15% during the quarter while snack sales, including Goldfish crackers and Cape Cod potato chips, declined over the same period.
Other iconic American brands are also seeing changes in consumer habits, suggesting households are growing more cautious with their spending.
Dollar General posts record sales as bargain stores attract more people anxious about the economy
The snacking slowdown has hit PepsiCo and General Mills, and Procter & Gamble has noticed consumers cutting back on laundry to conserve detergent. Meanwhile, McDonald's recently experienced its worst U.S. sales decline in five years, with traffic falling particularly among low and middle-income diners.
All of this comes amid heightened economic uncertainty, with President Trump's tariff policy unsettling both Wall Street and Main Street.
The lingering sense of unease recently sent consumer sentiment plunging to its lowest level in three years, nearing a record low. Recession odds are also up since the start of the year.
Americans have been particularly concerned about the potential resurgence of rampant inflation, as retail giants like Walmart warn that tariffs will drive prices higher for a range of goods, from bananas to car seats.
So far, economists' worst fears haven't come to pass, though the full effect of the president's trade war may still be months away.
It's possible the shift toward at-home dining could prove benign, driven more by the rising cost of eating out rather than drastic belt-tightening.
Grocery prices were up 2% in April compared to the year prior, according to the latest Consumer Price Index. Meanwhile, the cost of eating out increased by 3.9% over the same period, outpacing overall inflation.
Still, prominent household brands are likely to be the first to spot trouble brewing, given that consumer spending makes up about two-thirds of the U.S. economy.
Another trend that shows Americans are feeling: Sales are up at bargain stores like Dollar General, with even higher-income shoppers stopping by.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
37 minutes ago
- New York Post
Here are Gen-Z's unbelievable job requirements, including nap rooms and sabbatical leave: survey
They're Gen-ZZZ. Nearly one in six Americans under the age of 28 won't even consider taking a job unless there's a designated snooze space at the office, a mind-boggling new survey found. 'It's clear Gen-Z isn't shy about voicing what they want from today's workplace, and for many, it goes beyond salary and health insurance,' said Amanda Augustine, a certified professional career coach and resident expert for the resume-building website which polled 1,000 professionals across the country about their must-have perks while evaluating job opportunities. For them, napping on the clock, and other demands 'aren't just nice-to-have extras; they reflect a shifting view around work-life balance and overall well-being,' Augustine added. 3 Nearly one in six Americans aged up to 28 won't even consider taking a job unless there's a designated snooze space at the office, new survey found. Jack Forbes / NY Post Design One in five Gen-Zers — more than any other generation — say a 'fun room,' complete with games like ping pong and other recreational activities, is essential to their work environment, the startling survey results reveal. And one in five wouldn't even consider a position if the company's offices are not pet-friendly, compared to 14% of millennials, aged 29 to 44; 8% of 40- to 65-year-old Gen-Xers and only 4% of Boomers, aged 61 to 79. More Gen-Zers — 33% — expect free snacks and lunches at the workplace, more than any of their older coworkers, the poll found. 3 Overall, paid overtime was revealed as the most in-demand employee perk in America, with 76% of professionals saying it's a must-have. And even if an office is up to snuff, they don't want to show up. A whopping one in three said a four-day workweek is non-negotiable, and one in four expect 'extended' sabbatical leaves 'for personal development or travel.' 3 Napping on the clock is just one of Gen-Zers many demands while evaluating job opportunities. Fxquadro – Younger generations are 'pushing back against the old model of constant hustle and burnout' by valuing flexibility and 'a more enjoyable day-to-day experience,' according to Augustine. 'Companies that dismiss these priorities as frivolous may find it increasingly difficult to attract and retain top talent from this up-and-coming generation of workers,' she warned.
Yahoo
2 hours ago
- Yahoo
The 4.4% return this week takes Range Resources' (NYSE:RRC) shareholders five-year gains to 766%
For many, the main point of investing in the stock market is to achieve spectacular returns. While not every stock performs well, when investors win, they can win big. To wit, the Range Resources Corporation (NYSE:RRC) share price has soared 739% over five years. This just goes to show the value creation that some businesses can achieve. In more good news, the share price has risen 9.9% in thirty days. We love happy stories like this one. The company should be really proud of that performance! After a strong gain in the past week, it's worth seeing if longer term returns have been driven by improving fundamentals. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. During the last half decade, Range Resources became profitable. That kind of transition can be an inflection point that justifies a strong share price gain, just as we have seen here. The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image). It's probably worth noting that the CEO is paid less than the median at similar sized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.. As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Range Resources, it has a TSR of 766% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence! It's nice to see that Range Resources shareholders have received a total shareholder return of 30% over the last year. Of course, that includes the dividend. However, that falls short of the 54% TSR per annum it has made for shareholders, each year, over five years. The pessimistic view would be that be that the stock has its best days behind it, but on the other hand the price might simply be moderating while the business itself continues to execute. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Even so, be aware that Range Resources is showing 2 warning signs in our investment analysis , you should know about... For those who like to find winning investments this free list of undervalued companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
2 hours ago
- Miami Herald
Home Depot store closing indefinitely after scary incident
Retailers have been fighting an uphill battle over the past several years. Five years ago, Covid hit nearly every retailer hard. Related: Huge retail chain suddenly closing 100s of stores, no bankruptcy The beginning of 2020 brought a series of challenges for which most retailers weren't prepared. Even the oldest or most robust brands weren't anticipating a pandemic that would bring brick-and-mortar commerce to a near-screeching halt. For at least a few weeks, almost every retailer had to scramble to figure out how to stay afloat. Some were better equipped than others. Most every brick-and-mortar retailer was forced to shut down for at least some period of time, while customers stayed away and foot traffic went to zero. This put a lot of strain on e-commerce companies, which suddenly saw a spike in demand for inventory and had to coordinate logistics and shipments across the U.S. as efficiently and quickly as possible. And once the world reopened, many retailers experienced something of a jolt when they had to quickly adapt to a completely changed world. Interest rates rose sharply, making debt, growth, and recovery more expensive. And customer behavior had been changed forever. But some retailers were spared more than others. During Covid, many of us increased our time spent at home or around the house. That meant that many of us looked around and saw the projects we'd been putting off because of a busy schedule. Or maybe we just started to notice things that needed to be done. More closings: Popular local Dairy Queen rival suddenly closing, no bankruptcyAnother big Mexican chain closing down restaurant, no bankruptcyUPS suddenly closing more stores amid chaotic new change, layoffsPopular fast-food burger chain closes all restaurants in key area So when things slowly began opening back up, many Americans were far more likely to go into an open and sprawling big-box retailer like Home Depot than they were to go inside a crowded bar or gym. That meant good business for home improvement retailers. Between 2020-2022, Home Depot brought in record revenue. It added $40 billion in sales (a growth rate that had taken it nine years to achieve previously). And the company continues to fly high; it made its largest-ever acquisition in 2024, buying SRS Distribution for over $18 billion. No matter how high-flying a retailer might be, however, there is always a chance that an unforeseen event can close things down again. Such is the case with a Home Depot store located in Topsham, Maine. Related: Huge troubled retailer closing dozens of stores, laying off 100s The store, which is located near other big-box stores approximately 15 minutes outside of Freeport, Maine, was closed on Monday after a fire broke out in the early morning. Firefighters responded to a call around 4:25 am. The blaze was confined mostly around the cash register section. Officials believe it was caused by a battery that overheated while a radio was in its charging station. Smoke and water left much of the store damaged, and it will be closed until further notice. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
